Gries Financial LLC Increases Stake in FedEx Corporation (NYSE:FDX)

Gries Financial LLC increased its position in FedEx Corporation (NYSE:FDX - Free Report) by 30.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,451 shares of the shipping service provider's stock after acquiring an additional 2,671 shares during the quarter. Gries Financial LLC's holdings in FedEx were worth $2,791,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Golden State Wealth Management LLC lifted its position in FedEx by 21.1% during the first quarter. Golden State Wealth Management LLC now owns 362 shares of the shipping service provider's stock valued at $88,000 after purchasing an additional 63 shares during the last quarter. NBC Securities Inc. bought a new stake in FedEx during the first quarter valued at approximately $147,000. Farther Finance Advisors LLC lifted its position in FedEx by 27.6% during the first quarter. Farther Finance Advisors LLC now owns 2,223 shares of the shipping service provider's stock valued at $538,000 after purchasing an additional 481 shares during the last quarter. Allianz SE bought a new stake in FedEx during the fourth quarter valued at approximately $18,342,000. Finally, Parvin Asset Management LLC bought a new stake in FedEx during the fourth quarter valued at approximately $281,000. 84.47% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on FDX shares. Susquehanna lifted their price target on shares of FedEx from $290.00 to $295.00 and gave the stock a "positive" rating in a research note on Wednesday, June 25th. Barclays reissued an "overweight" rating and set a $320.00 price target (down from $330.00) on shares of FedEx in a research note on Wednesday, June 25th. Wells Fargo & Company lifted their price target on shares of FedEx from $220.00 to $235.00 and gave the stock an "equal weight" rating in a research note on Wednesday, June 25th. Cowen reissued a "buy" rating on shares of FedEx in a research note on Wednesday, June 25th. Finally, UBS Group decreased their price target on shares of FedEx from $311.00 to $297.00 and set a "buy" rating on the stock in a research note on Wednesday, June 25th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $283.25.

Insider Buying and Selling at FedEx

In other news, Director R Brad Martin sold 2,123 shares of the company's stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $241.75, for a total transaction of $513,235.25. Following the completion of the sale, the director owned 8,935 shares of the company's stock, valued at $2,160,036.25. This represents a 19.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Paul S. Walsh sold 3,610 shares of the stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $238.29, for a total transaction of $860,226.90. Following the completion of the sale, the director directly owned 15,513 shares of the company's stock, valued at $3,696,592.77. This represents a 18.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,343 shares of company stock worth $2,228,816. Company insiders own 8.87% of the company's stock.

FedEx Stock Up 0.1%

Shares of FDX stock traded up $0.21 during mid-day trading on Thursday, reaching $238.11. 711,403 shares of the company's stock traded hands, compared to its average volume of 1,984,094. FedEx Corporation has a 12 month low of $194.29 and a 12 month high of $308.53. The company has a market cap of $56.17 billion, a P/E ratio of 14.10, a P/E/G ratio of 1.21 and a beta of 1.35. The company has a quick ratio of 1.15, a current ratio of 1.19 and a debt-to-equity ratio of 0.68. The company's 50-day moving average price is $226.63 and its 200-day moving average price is $237.54.

FedEx (NYSE:FDX - Get Free Report) last announced its quarterly earnings results on Tuesday, June 24th. The shipping service provider reported $6.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.98 by $0.09. The company had revenue of $22.20 billion for the quarter, compared to analysts' expectations of $21.86 billion. FedEx had a net margin of 4.65% and a return on equity of 16.34%. During the same quarter in the previous year, the business posted $5.41 EPS. On average, equities analysts expect that FedEx Corporation will post 19.14 earnings per share for the current fiscal year.

FedEx Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 8th. Shareholders of record on Monday, June 23rd were paid a dividend of $1.45 per share. The ex-dividend date of this dividend was Monday, June 23rd. This represents a $5.80 annualized dividend and a yield of 2.44%. This is a boost from FedEx's previous quarterly dividend of $1.38. FedEx's dividend payout ratio is currently 34.36%.

FedEx Profile

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.